Tuesday, July 19, 2011

Goodbye Old Friend. *Borders Closing*

I was afraid this day would arrive, and so it has. Borders books is liquidating, meaning they're going out of business. Come September, the remaining 399 stores will close and the close to 11,000 employees will lose their jobs.


"Publishers said that with Borders gone, they would plan for smaller print runs and shipments. Employees at major publishing houses worried about layoffs because many companies have staff members who work only with Borders.

The closing could particularly hurt paperback sales. Borders was known as a retailer that took special care in selling paperbacks, and its promotion of certain titles could propel them to best-seller status.

When it filed for bankruptcy protection in February, Borders owed $272 million to its 30 largest unsecured creditors, including Penguin Group USA, Hachette Book Group, Simon & Schuster, Random House, HarperCollins and Macmillan.

Most publishers were unwilling to restore normal trade terms to Borders after the bankruptcy filing and insisted on being paid for books in cash and in advance.

The closings will almost certainly be a boon for Borders’ competitors. Other national book chains, like Barnes & Noble and Books-A-Million, could move into stores vacated by Borders. Some competing bookstores are already nearby. A spokeswoman for Barnes & Noble said that 70 percent of Barnes & Noble’s stores are within five miles of an existing Borders store.

Independent bookstores, historically the foes of the big chains, stand to benefit from the closings of Borders stores. That effect has already begun to be seen all over the country from the Borders stores that closed earlier this year."

I'll always have fond memories of Borders, for it helped with my romance reading addiction. I usually ended up at Borders twice a week. I'd be there on Tuesdays to search for any new releases and then on Saturday in case I missed any. I'd roam the aisles, giddy by the large section of romances Borders had. The majority of my beloved keeper books on my bookshelves were bought from Borders.

RIP Borders, you will be missed. I don't want to imagine what this means for the publishing industry and with rumors of Barnes and Noble not doing well either, there's bound to be some dark days ahead.



Carolyn Crane said...

so sad!!!

Liza said...

Very sad about Borders closing.

Debbie S said...

Maybe there is hope this was in my paper.Direct Brands plans a 215 million opening bid for borders the nations second largest bookseller.They said once sold thats likely end of july will morph into something different and turnaround bussiness.This should have been done long before they went bankrupt.What is left probably going to be viable operating company.Own Book of the month Double day columbia house.SO maybe hope we see if sold they will come back to some areas.All I have is barns Noble books a million and both never have half the books I want sometimes not even the top 10 in paperback .Do not get me started on the service it is ugly.I end up ordering from the big A free shipping and buy 3 get1 free is looking good.Still I will wait to see what happens.Barns isnt doing so hot either.They should read what customer say online .I feel they are not stocking what sells like romance books.I asked once for someones book you would think I asked for porn.The looks and the answer was her books in back area go look.Nope never went back left and ordered from A.

little alys said...

This is terrible! Where am I supposed to get my books now? ;_; They actually have a great selection, awesome discounts and very nice people.

They're not even going to be open via online? So sad.

The Reading Reviewer said...

I am saddened by this because it will affect workers and readers who will both feel this loss. Our local Borders were great sources of romance books when no one else wanted to carry them. They will be missed.

KB/KT Grant said...

Bookstores are also community boosters. They're a way for people to interact with others. Can you imagine if bookstores disappeared because of the continual rise of buying books online?

Debbie S said...

This just makes me sad to know the only buyer for borders is pulled the plug.I wonder do you think this will help Barnes Noble get it togather?Everything seems towards buy online anymore.Like you said KB it is away for people to interact with each other total strangers like to chat about a good book.I found out about the book water for elephants that way.IF this world keeps going toward online buying I feel like we will turn into caveman.Why leave house when you can get online.Meeting new people is nice chatting about book over a cup of coffee is even better.I wonder what you think KB/KT being your a author if all we end up with is online and B&N B Million to work with.It can not be good less places carry books less sales is how I see it.How can we even get to meet authors soon for book signings no book stores,I do not see B&N stepping up crap have the time they do not carry top ten in romance books.This makes me very sad.Online will be the death of book stores.

orannia said...

So sad to hear this news - my thoughts go out to all the employees.